Ultra kill. Liquidated

SniperWish
SniperWish

Oh boy.

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bitmex.com/app/seriesGuide/XBT

Booteefool
Booteefool

brainlet here what does this mean
did he loose 3,8 million or what?

haveahappyday
haveahappyday

yes

Sharpcharm
Sharpcharm

ABC correction confirmed?

RavySnake
RavySnake

3.8 million bitcoin...

LuckyDusty
LuckyDusty

Oh man that hurts. Why the fuck would you be short here?

Burnblaze
Burnblaze

3.8m BTC probably 200x leverage kek

King_Martha
King_Martha

3.8 million is nothing. He probably has 100x that amount on his account

TreeEater
TreeEater

i'm pretty sure it isn't 3.8 million bitcoins guys, it's 3.8m contracts instead. eh i cant remember someone explained this shit to me back then. maybe it's plain 3.8m

hairygrape
hairygrape

So he sold $3.8 mil of bitcoin at 12908? I don't see how this is losing unless btc never goes below that value?

t. brainlet

Methshot
Methshot

No it got liquidated to cover the margin losses

RavySnake
RavySnake

He borrowed bitcoins to sell, hoping to buy back lower and repay the loan and increase profit. But Bitcoin when up and he was liquidated

Boy_vs_Girl
Boy_vs_Girl

A trader goes long 100 XBT of XBTUSD at a price of 600 USD. He is long 100 XBT * 600 USD = 60,000 contracts. You are right.

I don't think you know what liquidated means.

Skullbone
Skullbone

fucking wrecked, oh wait his buddy is doing the buying and the're splitting the profit. OY VEY

BlogWobbles
BlogWobbles

I mean you are right for the contracts

w8t4u
w8t4u

he had to buy 3.8M but he didn't get to keep them ..

kizzmybutt
kizzmybutt

shhhh

King_Martha
King_Martha

what? no, if you buy 100 XBT it's 100 contracts @ 600 usd per contract, worth 60k usd

Evilember
Evilember

He probably hedged long already.

So that as bad as you think.

It’s advance trading.

Probably cheaper than to cancel the short.

whereismyname
whereismyname

i copy pasta from their website.
bitmex.com/app/seriesGuide/XBT

whereismyname
whereismyname

he was short 3,887,164 contracts most likely at 100x leverage, and 1 contract is $1.
This means he lost about $19,000 ish minimum if my math is right.
He could have bought his own liquidation on another account though, so he might not have lost anything because he's winning on the other side of it, and he might have gained since getting liquidated means the insurance fund pays the fee.

massdebater
massdebater

also 3.8mil wasn't even that big lol.
at 10mil bitmex makes you put up more margin, so this guy lost a fucking shit ton more.

hairygrape
hairygrape

F

GoogleCat
GoogleCat

Looks like one of the TA brainlets got rekt.
Bitcoin will go to 8000

KEK

Methshot
Methshot

LOL idiot didn't price lock. Lovin my money tree

whereismyname
whereismyname

wait wut

ZeroReborn
ZeroReborn

One contract equals 1 dollar

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